NEW YORK, NY, Dec. 28, 2017 (GLOBE NEWSWIRE) --
Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that it has entered into a memorandum of understanding with TKS Ventures (dba Tokes Platform) to bring blockchain technology to Weyland’s platforms.
“I am excited to announce that we have reached an initial understanding with TKS Ventures (“TKS”) to bring the technology behind their Tokes platform to Weyland’s applications. There are solid underlying dynamics between Weyland and TKS that extend far beyond this initial partnership. The overarching fit is that Weyland’s AtozPay will provide a digital wallet and the TKS enterprise resource planning and supply chain platform provide superior blockchain based security for the order processing steps in the transaction process. Additionally, TKS’s combination of a utility token and seed-to-sale tracking platform will provide a substantial benefit to our online-to-offline (“O2O”) initiative. Further building blockchain and cryptocurrency capabilities into AtozPay and CreateApp will provide complete flexibility in meeting the needs of diverse communities across global markets,” noted Weyland CEO, Brent Suen.
“The Tokes team is developing systems for one of the toughest regulatory environments in the world; we believe the robustness of their end-to-end supply chain managements systems for the cannabis market can be repurposed for retail logistics in a variety of industries CreateApp serves. The mobile first countries Weyland focuses on have skipped a number of legacy technologies as they develop and will be early adopters of blockchain technologies that will be introduced,” continued Mr. Suen.
TKS CEO Michael Wagner commented, “The Tokes token and platform has initially been focused on the cannabis space, but we have always anticipated that the TKS blockchain, ERP, and merchant gateway systems that we have been developing would be open to use in other product verticals and they have been designed with that in mind. We are pleased that the team at Weyland agrees and we look forward to developing robust solutions with them for those global markets.”
Under the terms of the memorandum, TKS and Weyland’s final agreement will support the purposes of:
(1) Applying and utilizing blockchain technology for payment and banking layer solutions in the unbanked demographic prevalent in Weyland's SE Asia markets;
(2) Jointly developing logistics and fulfillment solutions via the blockchain that allows for more secure tracking, compliance of transactions along the supply chain in various industries;
(3) Combining WEYL's current mobile marketplace solutions which include e-wallet and other fiat currency-based payment services with TKS’s Merchant Gateway services facilitating a two-way conversion of paper currency in jurisdictions where that is allowed; and
(4) Expanding the use of the TKS cryptocurrency into various non-cannabis industry applications by virtue of Weyland's other payment solutions.
Mr. Suen concluded, “Weyland has been focused this year on enhancing our successful CreateApp platform with transactional capabilities. These efforts will combine for substantial revenue growth next year. We look forward to bringing these solutions to market in the new year.”
About TKS Ventures
The Tokes Platform was founded to solve the legal cannabis industry’s cash-only transaction and banking issues with their cryptocurrency Tokes ($TKS), as well as their software solutions for payment processing and supply chain management. Running on the Waves blockchain, Tokes are a robust cryptocurrency with fast transaction times (less than a minute) and a secure immutable digital ledger. The Tokes transactional protocol is applicable for both business-to-business and consumer-to-business models. More information about Tokes Platform is available at https://tokesplatform.org. TKS is a digital token traded on BITTREX (BITTREX.com), the next-generation digital currency exchange: https://bittrex.com/Market/Index?MarketName=BTC-TKS
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
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Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the continued growth of the e-commerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.